[sharker8]

This both oversimplifies the experiences of people who have been through economic cycles before (some of them are shocked too), and underestimates the power of the human imagination. I for one believe I can read about an era I didn't experience, use my imagination to think about what it would have been like to live during that time, and if something similar happens in my lifetime, be less 'shocked'. I think many people can do this too!

[082349872349872]

Everyone learns from experience; the wise try to learn from other peoples' experience.

[ghaff]

Someone can intellectually know that there are business cycles in all industries. And probably even have heard about the dot-com bust and how bad some people say it was. And, simultaneously, think that's all sort of a distant abstract concern from the perspective of their cushy job at Google.